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Thứ năm, ngày 7 tháng 11 năm 2024
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Ngày 04/09/2013-09:48:00 AM
OECD upgrades Britain's growth forecast to 1.5 pct in 2013

The Organization for Economic Cooperation and Development (OECD) Tuesday revised up British economic growth for 2013 to 1.5 percent from the previous estimate of 0.8 percent.
It said that growth in Britain had picked up momentum through the first half of the year, predicting the GDP growth for the third quarter of this year at 3.7 percent and 3.2 percent for the last quarter.
"Activity is expansion at encouraging rates in North America, Japan and United Kingdom, while the euro area as a whole is no long in recession," the OECD said its Interim Economic Assessment report issued on Tuesday.
"The pace of recovery in the major advance economies improved in the second quarter and growth is expected to be maintained a similar rate in the second half of the year," it said.
Britain has seen a run of encouraging figures from both official and independent agencies pointing to a stronger economic recovery.
The purchasing managers' index (PMI) for both manufacturing and construction sector posed strong rises in August, according to reports jointly issued by Markit and the Chartered Institute of Purchasing and Supply (CIPS)
The Markit/CIPS PMI for Britain's construction sector released on Tuesday rose to 59.1 points in August, higher than 57 in July, and that for manufacturing jumped to 57.2 in August, up from a revised reading of 54.8 in July, hitting a two-an-a-half year high.
The Office for National Statistics also raised its GDP growth estimates for the second quarter from 0.6 percent to 0.7 percent.
Based on the improvements of economy, some research institutes have also adjusted up their growth forecasts for Britain.
The British Chambers of Commerce (BCC) has recently upgraded its forecast for the British economic growth in 2013 from 0.9 percent to 1.3 percent.
The industry body for businesses and corporations also upgraded its expectations for growth in 2014 from 1.9 percent to 2.2 percent and from 2.4 percent to 2.5 percent for 2015./.

Xinhua

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